The global tin deficit has been going strong since 2010, and it isn't likely to let up any time soon. However, prices for the metal lost some momentum in March.
Demand for tin is rising, and no new mines are set to come online in response.
Indonesia, supplier of more than one-third of the world's tin, has begun to institute new rules to control the tin trade.
Much has been said of the massive scope of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Lisa Reisman, managing editor of MetalMiner.com, sees opportunity in the controversial provisions governing conflict minerals.
Solid Resources Ltd. (TSXV:SRW) has appointed Jonathan C.R. Morley-Kirk as the non-executive Chairman of the Board of Directors, and Mr. Michael Nayyar as Chief Financial Officer. Mr. Nayyar will replace current CFO Rick Gliege, who will continue to act as Chief Operating Officer, Director and Corporate Secretary.
Solid Resources Ltd. (TSXV:SRW), thru its wholly-owned subsidiary, Solid Mines España, S.A.U., has acquired all of the issued and outstanding shares of Lorente y Pallares, S.L., a private Spanish company that holds all of the rights and interests associated with the Cehegin 62 iron ore concessions in south-eastern Spain. The purchase price for the acquisition was EUR135,000, plus the repayment of mortgage debt in the amount of EUR45,000.
Solid Resources Ltd. (TSXV:SRW) announced the intent to proceed with a non-brokered private placement offering of up to up to Cdn. $425,000 consisting of 4,250,000 common shares at a subscription price of Cdn $0.10 per Common Share.
Solid Resources Ltd. (TSXV:SRW) completed its non-brokered private placement consisting of 10,541,667 units, for gross proceeds of $1,265,000.
Reuters reported that Indonesia, the world’s top exporter of refined tin, is working on boosting exports of finished products. The government’s focus now is to add value to exports, which make smelters unnecessary.
Reuters reported that tin fell close to 7% in the London Metal Exchange on a disappointing Chinese economic data.
Bloomberg reported that tin shipments from Indonesia in March climbed 11.3% to 9,295.7 metric tons on increased purchases from Singapore and Malaysia.
Reuters reported that tin advanced slightly at 0.6% on the LME amid a weak jobs data in the US, which dampened the demand for most metals.